To give a fillip to the vision of converting all the conventional electricity meters to smart meters in the next few years, EESL (Energy Efficiency Services Limited, A Joint venture of PSUs of Ministry of Power, Government of India) along with NIIF (National Investment and Infrastructure Fund, a Government of India, sovereign fund) has formed a JV company – IntelliSmart Infrastructure Private Limited or “IntelliSmart”. It will enable implementation of Smart meters through BOOT (Build. Own. Operate. Transfer) model to expedite the deployment, which shall replicate the EESL success so far on the same model. The focus of IntelliSmart would be to drive efficiencies for DISCOMs, improve revenue management, increase billing efficiency and consumer satisfaction.
Formed in 2019, the company, for the implementation of smart metering is functioning like a global Meter Asset Provider (“MAP”), which deploys smart meters for the utilities by funding the entire capex and recovers this via a lease model (PAYS – Pay As You Save in this case). Also, as an evolving knowledge sharing platform for digital solutions pertaining to the power and distribution sectors, IntelliSmart acts as a key player in introducing financial and operational efficiencies in this space.
The Government of India plans to install 25 crore smart meters in the next few years. With the replacement of 25 crore conventional meters with smart meters, billing read and collection efficiency can improve to 100 percent, and has the potential to increase DISCOM revenues by INR ~1,000 billion annually. With a focus on expediting the deployment of smart meters across the country, IntelliSmart is operating at scale by leveraging the expertise and capital of both the shareholders, EESL and NIIF. IntelliSmart is working collaboratively with all stakeholders to procure, deploy and provide operations and maintenance for the smart meter infrastructure.